Why Fintechs Struggle to Win Bank Deals — And How to Fix It

Over my 20 years in banking, I’ve run countless RFPs with fintechs. Many had great products but still struggled to close the deal. Here’s where things often go wrong — and how to fix it:

🚨 Sales Engagement Missteps

You can pitch your product well, but when it’s time to discuss how it fits into a bank’s tech, ops, and risk landscapes, things often fall flat.

Solution: Run a workshop with key stakeholders. Walking the bank through integration, workflows, and risk considerations builds trust and makes implementation smoother. This step alone can be the difference between a stalled conversation and a signed contract.

💰 Overcomplicated Pricing Models

Too many line items, confusing tiers, and unclear value descriptions can derail your pitch. Add sky-high implementation or maintenance fees, and banks may walk away before you’ve even started.

Solution: Design your pricing for long-term revenue. Keep it simple, highlight value clearly, and ensure your upfront costs align with the ROI you’re promising.

🛠️ Weak Problem Management and SLAs

If your Sev 1 response time is 24 hours with no financial penalties, you’re already losing credibility.

Solution: Proactively include strong support terms that build confidence in your solution and leadership. Banks need to know you’ll show up when it matters most.

🤝 Post-Sales Support Gaps

Banks may want to think of themselves as tech houses but most lack the resources to manage complex fintech integrations.

Solution: Offer dedicated resources like a tech lead, project manager, or sales engineer to guide the bank’s team. Build this into your pricing and position it as a value-add.

✅ Bottom Line: These adjustments can dramatically improve your ability to win — and keep — bank clients.